Zhejiang provincial leadership issued guidance to build a top-tier innovation
ecosystem and more competitive business environment, prioritizing high-quality
tech-finance development. Measures include accelerating a tech-finance system
aligned with innovation, strengthening full life‑cycle financing for sci‑tech
firms, and promoting an innovation scoring system to steer financial resources
toward these companies. Launch a 'patient capital' initiative, marketize
operation of social‑security sci‑tech funds, and boost the leverage role of
industrial funds to channel capital earlier, in smaller tickets, for longer
tenors and into hard‑tech. Deepen the Phoenix Action to support sci‑tech firm
listings and M&A. Use re‑lending and other monetary policy tools, establish
dedicated bank sci‑tech lending mechanisms, expand tech‑innovation bond
issuance, and improve tech‑finance risk‑sharing. Targets: by 2027 tech loans
should keep steady growth and tech insurance coverage exceed 700 billion yuan;
by 2030 Zhejiang aims to rank among the country’s leaders in tech‑innovation
bond issuance.
